Cattle on Feed Report Summary

OMAHA (DTN) -- Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.7 million head on Nov. 1, 2018. The inventory was 3% above Nov. 1, 2017, USDA reported Wednesday.

Placements in feedlots during October totaled 2.25 million head, 6% below 2017. Net placements were 2.18 million head. During October, placements of cattle and calves weighing less than 600 pounds were 640,000 head, 600-699 pounds were 525,000 head, 700-799 pounds were 450,000 head, 800-899 pounds were 363,000 head, 900-999 pounds were 180,000 head, and 1,000 pounds and greater were 90,000 head.

Marketings of fed cattle during October totaled 1.89 million head, 5% above 2017.

Other disappearance totaled 69,000 head during October, 5% below 2017.

"The Cattle on Feed report remained neutral to slightly bullish with overall cattle on feed coming well within estimated market ranges," said DTN Analyst Rick Kment. "Cattle placements through the month of October are positive with overall placements at the low end of the range and well below estimated levels. Marketing levels beat expectations by 1%, once again focusing on firm to strong overall beef demand."